SPX Credit Spread Trader

[momoneythansens]

Some diversion to give pause for thought.

From Fooled by Randomness:

"Lucky fools do not bear the slightest suspicion that they may be lucky fools - by definition, they do not know that they belong to such a category. They will act as if they deserved the money. Their string of successes will inject them with so much serotonin (or some similar substance) that they will even fool themselves about their ability to outperform the markets..."

"...One is "on a roll." Some imperceptible changes in deportment, like an ability to express oneself with serenity and confidence, make the subject look credible - as if he truly deserved the shekels. Randomness will be ruled out as a possible factor in the performance, until it rears its head once again and delivers the kick that will induce the downward spiral..."

"...In addition, there seems to be a curious evidence of a link between leadership and a form of psychopathology (the sociopath) that encourages the non-blinking, self-confident, insensitive person to rally followers..."

All in the space of two pages! Pure gold, whether you agree with the premises of the book or not.

I'll let each persons own paranoia work it's magic to draw any links between me posting these quotes and activity on this thread

MoMoney.

 

[ryank]

Quote from MTE:

That's kinda logical don't ya think!? Of course you can make more money quicker if you a good direction picker.

Exactly, that is what I am trying to get used to.

 

[ready]

Good Morning Everyone

 

[piccon]

I enjoy posting and reading this thread but lately, people have use strong words to characterize people trading system.

I think people will shy away from posting their (success & failure) because they will be affraid you guys will bring your strong judgement.

After all, people are looking for guidance and education but if they know they will get a whooping from time to time for losing their own money or for making a trade someone doesn't like or a trading style you don't like.

Please be nice with people. Some people's feelings get hurt much easier than others. Be compassionate

MHO

Quote from andysmith:

Not at all meant to be mean spirited. I asked myself the same question from time to time as a reality check...

 

[momoneythansens]

You mean you need to be able to trade to make more money? C'mon now, that's just crazy talk!

Quote from MTE:

That's kinda logical, don't ya think!? Of course you can make more money quicker if you a good direction picker.

 

[Aardvark]

Quote from rallymode:

What all successful traders have in common is they get paid = or > for the risk that they take. I guarantee you that a beginner will not be able to adjust/hedge a low r/r strategy the way they should to get compensated properly for that risk. Hence, their money is better suited with high r/r trades/strategies.

But no one listens to me so try it out yourself.

I listen but couldn't disagree more. You are basically saying a beginner (to options?) may as well go to Vegas. What a beginner SHOULD do is try the various strategies they are learning in 1 contract increments until they DO LEARN how to adjust/hedge etc. Not throw their money away buying OTM puts and calls.

 

[nlslax]

Quote from andysmith:

You don't like my posts but you probably read each one three or four times, don't you? Now that's just plain bipolar! Looking forward to irritating you in the next 500, spuds.

I'm lookin forward to watching you cry for help as you usually do during your tentative little posts. You seem to spend more time asking for permission to enter trades than you do anything else.

I'll be sure to point them out as we go forward.

Spuds out

 

[andysmith]

How can you possibly know? Perhaps they have reevaluated their trading strategy and moved to a different one, or stopped trading altogether and focused on activities in their life at which they naturally excel. That's self-supported natural selection. Remember Darwin, he had it right,... totally right.

Quote from codyhopkins:

I do not think it helps the original poster, nor does it offer insight into stratagies.

 

[andysmith]

Spuds, I'd really like to put on a JUN 1220/1230 put spread for around $1.20 credit.
Do I have your permission?

Waiting with bated breath for your reply...

Quote from nlslax:

I'm lookin forward to watching you cry for help as you usually do during your tentative little posts. You seem to spend more time asking for permission to enter trades than you do anything else.

I'll be sure to point them out as we go forward.

Spuds out

 

[El OchoCinco]

A losing trade does not equate with quitting trading. I think the solution is a little extreme given the symptons .

We all have had a losing position we let get away from us and if that was all it took to quit trading, then all 3 Market Wizards books would never have been written...

Quote from andysmith:

Heather, it's entirely possible that trading is not something you should be doing. Not to be discouraging, but have you thought about it?